The New Nation - Internet Edition

BSS, Rangpur

The prices of rice and paddy markedly fell down in the country's northern region last week due to their higher supply as well as fear of tough actions against hoarding by the new government.

"The hoarders are selling large quantity of rice and paddy fearing actions by the new government that has a clear determination to bring down prices of essentials including rice and paddy," traders said.

According to the market sources, coarse rice is now selling at Taka 20 and Taka 21 per kg at rural markets, reasonable to the common people. The prices of both coarse and fine variety of rice fell by Taka five to Taka seven per kg during the last week.

The per maund (every 40 kg) price of coarse variety and fine variety paddy also marked a sharp fall by Taka 200 per maund on an average, and those were selling now at the paddy markets at Taka 450 and Taka 500 respectively, traders said.

In the previous week, the prices of the same were Taka 660 (coarse) and Taka 725 (fine) per maund paddy in the region, the market sources and concerned officials said.

Controller of Food of Dinajpur Abdullah Al Mamun said prices of rice and paddy rose to an abnormal level in recent past, and now these are coming down to a tolerable level of about Taka 20 per kg.

Some wholesalers, millers and retailers said release of a large quantity of illegally hoarded rice by the dishonest traders as well as bumper production of T-Aman paddy this year caused the present sharp fall in rice prices.

Some rice wholesalers of Rangpur Pouro market said they sold an 84-kg sack of new coarse variety of hybrid rice at Taka 1,650 Tuesday, which is Taka 220 lower than its price a week ago.

The wholesale price of this variety was recorded at Taka 19.64 per kg, and the retailers are selling the same at Taka 21 to Taka 22 per kg in the urban markets in the region, they added.

An 84-kg sack of BR-28 (category-1) rice was sold to the retailers at Taka 2,500 against Taka 2,700 of the previous week, while 84-kg sack of BR-28 (category-2) was sold at Taka 2,300 against Taka 2,500, and BR-28 (category-3) at Taka 2,200 against Taka 2,400.

Meanwhile, coarse variety rice is selling at Taka 16.50 per kg in terms of Bangladeshi currency in the Indian side of the border at Hilli landport of Dinajpur Tuesday, sources said.

The common people were seen very happy with the rice price decline. A number of farmers, however, said they were unhappy for low paddy prices, which are below their production cost. They suggested the government to fulfil its commitment of bringing down prices of fertilisers, diesel and agri-inputs as soon as possible.